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Self-fulfilling dynamics : the interactions of sovereign spreads, sovereign ratings and bank ratings during the euro financial crisis

Gibson, Heather D.; Hall, Stephen G.; Tavlas, George S. - 2016

Persistent link: https://www.econbiz.de/10011567510

Self-Fulfilling Dynamics : The Interactions of Sovereign Spreads, Sovereign Ratings and Bank Ratings During the Euro Financial Crisis

Tavlas, G. S.; Gibson, Heather D.; Hall, Stephen G. - 2022

During the euro-area financial crisis, interactions among sovereign spreads, sovereign credit ratings, and bank credit …, we consider a panel of five euro-area stressed countries within a three-equation simultaneous system in which sovereign … estimation, which allows us to calculate persistence and multiplier effects. Second, we apply a new, system timevarying …

Persistent link: https://www.econbiz.de/10013492640

Measuring systemic stress in European banking systems

Gibson, Heather D.; Hall, Stephen G.; Tavlas, George S. - 2016

Persistent link: https://www.econbiz.de/10011567515

The effect of Emergency Liquidity Assistance (ELA) on bank lending during the euro area crisis

Gibson, Heather D.; Hall, Stephen G.; Petroulas, Pavlos; … - 2019

Persistent link: https://www.econbiz.de/10012098520

Did the Absence of a Central Bank Backstop in the Sovereign Bond Markets Exacerbate Spillovers During the Euro-Area Crisis?

Tavlas, G. S.; Gibson, Heather D.; Hall, Stephen G.; … - 2022

The euro-area sovereign debt crisis was characterized by feedback loops between (1) sovereign bond ratings and …

Persistent link: https://www.econbiz.de/10013492299

The Effectiveness of the ECB's Asset Purchase Programs of 2009 to 2012

Tavlas, G. S.; Gibson, Heather D.; Hall, Stephen G. - 2022

(CBPPs) on sovereign bond spreads and covered-bond prices, respectively, for five euro-area stressed countries -- Greece …

Persistent link: https://www.econbiz.de/10013492698

On the Effects of the Ecb's Funding Policies on Bank Lending and the Demand for the Euro as an International Reserve

Tavlas, G. S.; Gibson, Heather D.; Hall, Stephen G.; … - 2022

The euro-area financial crisis that erupted in 2009 was marked by negative confidence effects that had both domestic … and international ramifications. Domestically, bank lending declined sharply. Internationally, the demand for the euro as … national and regional spillovers. We also assess the effects of ECB policies on euro reserve holdings. The results suggest that …

Persistent link: https://www.econbiz.de/10013492305

Macroeconomic expectations of households amd professional forecasters

Carroll, Christopher D. - 2002

Economists have long emphasized the importance of expectations in determining macroeconomic outcomes Yet there has been almost no recent effort to model actual empirical expectations data; instead macroeconomists usually simply assume expectations are rational This paper shows that while...

Persistent link: https://www.econbiz.de/10010293441

The epidemiology of macroeconomic expectations

Carroll, Christopher D. - 2001

Since the foundational work of Keynes (1936) macroeconomists have emphasized the importance of agents' expectations in determining macroeconomic outcomes Yet in recent decades macroeconomists have devoted almost no effort to modeling actual empirical expectations data instead assuming all...

Persistent link: https://www.econbiz.de/10010293481

International evidence on sticky consumption growth

Carroll, Christopher D.; Slacalek, Jiri; Sommer, Martin - 2008

We estimate the degree of 'stickiness' in aggregate consumption growth (sometimes interpreted as reflecting consumption habits) for thirteen advanced economies. We find that, after controlling for measurement error, consumption growth has a high degree of autocorrelation, with a stickiness...

Persistent link: https://www.econbiz.de/10010277539